SAVINGS
Gross/AER**
*If you are wishing to place deposits greater than £500,000, please contact our Savings Team on 01732 441944.
**Gross is the interest rate without tax deducted. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Your eligible deposits with The 
Charity Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. View and download the Charity Bank Deposit Guarantee Scheme: Information Sheet here. For further information visit www.fscs.org.uk.
Open an account with £10,000.
Giving you the flexibility you need.
Your money will be used to support charities and social enterprises.
Interest is paid Gross i.e. without tax deducted.
£10,000 (if your balance falls below £10,000 we’ll pay you 0.10% Gross/AER).
£500,000
You can access your savings via CHAPS (fee applies) or Faster Payment to your Nominated Account when you email us a withdrawal notification form signed in accordance with your mandate. As an additional security measure we will follow up receipt of the withdrawal notification form with a call back to an authorised signatory to ask for characters from the memorable word linked to your account. There is a limit of one withdrawal request per day and a maximum daily withdrawal limit of £125,000.
Signed notifications must be received by 11.30 a.m. on a business day; instructions received after these times will be processed next business day.
Initial deposit(s) can be made by cheque or electronic transfer within 14 days of notification account opened. Within the funding period you may fund your account with one or multiple deposits from your nominated account up to a maximum account balance of £500,000. If your account is not funded to the minimum account balance of £10,000 within this period it will be closed, and any funds returned to you. Subsequent payments are supported by cheque, electronic transfer, direct debit or standing order from your nominated account.
Unlimited.
Interest is calculated daily and added to your account quarterly in March, June, September and December and on closure of your account. There is no bonus interest payable.
Based on an interest rate of 3.12% gross, the balance on a £10,000 deposit after 12 months would be £10,315.67. This illustrative example assumes no withdrawals and no changes to the managed interest rate over the period. (The illustrative example does not take into account the individual circumstances of a customer).
The interest rate is managed and may be altered in accordance with Section 9 Changes to interest rates of our Terms for organisations (Ethical Easy Access Account).
All accounts are operated by post. We can answer any questions directly by email or over the phone. Currently we do not offer online services once your account is open.
Talk to our UK based Savings Team about your needs.
Our ethical savings accounts give you the ability to help create lasting social change. Explore our full range of ethical savings accounts to find right account for you.
View Charities, Clubs & Trusts Savings AccountsAre my savings protected by the Financial Services Compensation Scheme?
Charity Bank benefits from its own banking licence and is a member of the Financial Services Compensation Scheme (FSCS).
A. Yes, your eligible deposits with Charity Bank are currently protected up to the £85,000 limit of the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. Any balances above £85,000 are not protected.
For joint accounts eligible deposits for each account holder are protected up the £85,000 FSCS limit (making a total of £170,000).
Deposits from large companies and small local authorities are covered by the FSCS deposit protection from 30 January 2017 up to the FSCS limit of £85,000.
Please refer to our Deposit Guarantee Scheme: Information Sheet
You can visit the FSCS website for more information and check whether your covered.
How do I operate my account?
All accounts are operated by post. We can answer any questions directly by email or over the phone, with our friendly UK based Savings Team, who are always willing to support you. Currently we do not offer online services once your account is open.
How does Charity Bank support vulnerable customers wishing to apply for an account?
We understand that challenging situations, whether temporary or permanent, can make it more difficult to apply for and maintain your account with us. Please refer to our Customer Support guidance or contact us by phone: 01732 441944 or by email: [email protected] should you need any support before completing your application.
How can I make my initial deposit into a new savings account?
Once we confirm to you by email that your account is open, you will have 14-calendar days to fund it. During this window you can make one or multiple payments by any of these methods.
OR
Once this period has ended, if your account hasn’t been funded at least to its minimum account balance, it will be closed, and confirmation will be issued to you. We will send you a reminder to fund your account after 7-days to ensure such cases are kept to a minimum.
We partner with NatWest as our clearing bank. From 3 May 2024 we were live on the Confirmation of Payee (CoP) service. You can read more about how it works and what this means to you on our dedicated CoP webpage. We continue to encourage you to please take due care and diligence when making payment by electronic transfer. Your confirmation of account opening email, will provide your unique 8-digit account to be used with our sort code: 60-83-16 and you are welcome to contact us by phone: 01732 441944 or email: [email protected] to double-check anything.
Please always quote your application reference number* and/or surname as a payment reference and ensure your bank correctly quotes the reference when they are making a payment on your behalf, otherwise it may be rejected and returned to you without interest. You’ll earn interest from the business day on which the payment was received.
*If you completed your account application online, you will have been given an application reference number.
For the latest Charity Bank savings accounts documents, please click on the button below.
Savings Document LibraryPlease click the links below to download an application pack:
Charity Bank Terms for Organisations (Ethical Easy Access Account)
Ethical Easy Access Account for Charities, Trusts and Unincorporated Associations – Application Form